USD/DKK 1H Chart: Adjusting and meeting dominant pattern

The US Dollar, as expected previously, surged against the Danish Krona. However, the surge did not occur exactly as expected. Namely, the currency exchange rate surged more than expected.

During the surge the pair broke the upper trend line of the junior and dominant pattern. On the observable chart one can only observe the broken junior pattern, as the dominant drawn pattern is a new one.  

The new pattern uses the recent high level together with a previous high as reference points for the channel pattern.

In general, it is expected that a decline takes place in the near, mid-term and long term future.

USDDKK

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.